Northern Data will buy out mining firm Bitfield

The management of the German provider of computing infrastructure Nothern Data AG signed an agreement with the owners of the mining company Bitfield NV to buy out the latter for $ 460 million.

Upon completion of the transaction, Northern Data will enter the mining market directly. Now the German company does not have its own mining equipment, but after the purchase of Bitfield, 33,000 new ASIC miners from the “leading manufacturer” will be at the disposal of Northern Data.

According to the press release, 6,600 devices have already been deployed by Bitfield in the “mobile high-performance” data centers of Northern Data in the US and Canada. The equipment capacity is 25 MW. Another 26,000 devices have already arrived from suppliers, but have not yet been installed in the data centers. The rollout of new capacity at the North American sites should be completed by the end of the first quarter of 2022.

At the moment, the hashrate of Bitfield equipment is about 0.7 Eh / s, and after the end of the deployment of devices, it will reach 3 Eh / s. At the same time, the capacity of Nothern Data data centers, taking into account the clients’ equipment, will reach 6 Eh / s.

“The acquisition of Bitfield is an important step in the implementation of our scalable growth strategy. We are adding mining to existing lines of business – hosting equipment for mining bitcoin, altcoins and cloud computing. It is a great pleasure for me to welcome the Bitfield team to our ranks, ”said Arosh Thillainathan, CEO of Nothern Data AG.

Earlier this month, Icelandic mining company Genesis Digital Assets signed an agreement to purchase 20,000 ASIC miners from Canaan. In addition, Canaan has issued an option to supply another 180,000 miners.